Kornitzer Capital Management Inc. KS Makes New $3.29 Million Investment in Core Laboratories (NYSE:CLB)

Kornitzer Capital Management Inc. KS bought a new position in shares of Core Laboratories (NYSE:CLB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,490 shares of the oil and gas company’s stock, valued at approximately $3,286,000. Kornitzer Capital Management Inc. KS owned 0.16% of Core Laboratories at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CLB. Marshall Wace LLP purchased a new stake in shares of Core Laboratories in the first quarter valued at about $30,000. NEXT Financial Group Inc purchased a new stake in shares of Core Laboratories in the second quarter valued at about $31,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Core Laboratories in the second quarter valued at about $31,000. Griffin Asset Management Inc. purchased a new stake in shares of Core Laboratories in the second quarter valued at about $31,000. Finally, HM Payson & Co. purchased a new stake in shares of Core Laboratories in the second quarter valued at about $49,000.

In other news, Director Gregory Barry Barnett acquired 1,000 shares of Core Laboratories stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $40.00 per share, with a total value of $40,000.00. Following the completion of the purchase, the director now owns 11,000 shares of the company’s stock, valued at approximately $440,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Shares of CLB traded up $1.16 on Friday, hitting $48.46. 423,835 shares of the stock traded hands, compared to its average volume of 644,637. The company has a quick ratio of 1.48, a current ratio of 1.92 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $2.07 billion, a P/E ratio of 21.25, a P/E/G ratio of 6.97 and a beta of 1.97. The stock’s 50 day moving average is $44.92 and its two-hundred day moving average is $49.01. Core Laboratories has a 1 year low of $36.61 and a 1 year high of $88.04.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $173.20 million for the quarter, compared to the consensus estimate of $171.38 million. Core Laboratories had a net margin of 14.68% and a return on equity of 45.63%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Research analysts forecast that Core Laboratories will post 1.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, October 18th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, October 17th. Core Laboratories’s payout ratio is 96.49%.

CLB has been the topic of several recent research reports. Bank of America set a $48.00 price target on shares of Core Laboratories and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup reduced their price target on shares of Core Laboratories from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. ABN Amro downgraded shares of Core Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. ValuEngine raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price target on shares of Core Laboratories from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $71.33.

Core Laboratories Profile

Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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